HPH Trust

HPH Trust: To increase investment in JV with Shenzhen Yantian Port Hldgs and maintain 65% shareholding. The increase in total investment amt will be raised from Rmb1b to Rmb4.9b. Co will contribute an additional Rmb873.1m in equity with remainder to be in the form of shareholder loans and the JV itself raising debt. Co currently has net gearing of approx 34.0% with HK$67.5m in net assets.